QBE sale date nears for PMI acquisition
QBE is tipped to take control of PMI Australia before the end of the month. The mortgage insurer’s parent company, the California-based PMI Group, says it expects to have regulatory approval for the transaction soon.
“We are confident that the regulatory approvals will be received,” PMI CEO Steve Smith said. “PMI will shortly thereafter complete the sale to QBE.”
QBE will take on the assets of PMI Australia for an estimated $1.02 billion.
“We are confident that the regulatory approvals will be received,” PMI CEO Steve Smith said. “PMI will shortly thereafter complete the sale to QBE.”
QBE will take on the assets of PMI Australia for an estimated $1.02 billion.